DTE Energy (NYSE:DTE) Given New $113.00 Price Target at BMO Capital Markets

DTE Energy (NYSE:DTE) had its price objective boosted by BMO Capital Markets from $111.00 to $113.00 in a report released on Wednesday morning, Benzinga reports. They currently have a market perform rating on the utilities provider’s stock.

A number of other analysts have also issued reports on the stock. TheStreet raised shares of DTE Energy from a c+ rating to a b- rating in a research note on Friday, March 15th. Wolfe Research lowered shares of DTE Energy from an outperform rating to a peer perform rating in a research note on Tuesday, January 16th. Barclays upped their price objective on shares of DTE Energy from $112.00 to $115.00 and gave the stock an overweight rating in a research note on Monday. JPMorgan Chase & Co. upped their price objective on shares of DTE Energy from $118.00 to $120.00 and gave the stock a neutral rating in a research note on Wednesday, March 13th. Finally, Morgan Stanley upped their price objective on shares of DTE Energy from $108.00 to $109.00 and gave the stock an overweight rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, DTE Energy currently has a consensus rating of Hold and an average price target of $114.56.

DTE Energy Trading Up 2.0 %

DTE stock opened at $105.27 on Wednesday. The stock has a market capitalization of $21.78 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64. DTE Energy has a twelve month low of $90.14 and a twelve month high of $116.73. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 1.58. The firm’s fifty day simple moving average is $108.61 and its two-hundred day simple moving average is $105.55.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, February 8th. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.01. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $4.97 billion. DTE Energy had a net margin of 10.96% and a return on equity of 11.00%. During the same period in the previous year, the firm earned $1.31 earnings per share. As a group, analysts anticipate that DTE Energy will post 6.7 earnings per share for the current year.

DTE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $4.08 annualized dividend and a dividend yield of 3.88%. DTE Energy’s dividend payout ratio (DPR) is currently 60.36%.

Insider Activity

In other news, VP Lisa A. Muschong sold 2,775 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $108.43, for a total transaction of $300,893.25. Following the transaction, the vice president now owns 5,469 shares in the company, valued at $593,003.67. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Joann Chavez sold 6,070 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $109.19, for a total value of $662,783.30. Following the transaction, the senior vice president now owns 16,667 shares in the company, valued at approximately $1,819,869.73. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Lisa A. Muschong sold 2,775 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $108.43, for a total transaction of $300,893.25. Following the completion of the transaction, the vice president now owns 5,469 shares in the company, valued at approximately $593,003.67. The disclosure for this sale can be found here. Insiders have sold a total of 20,095 shares of company stock worth $2,168,183 over the last 90 days. 0.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DTE Energy

Several hedge funds and other institutional investors have recently bought and sold shares of DTE. Millennium Management LLC increased its holdings in DTE Energy by 224.8% in the 4th quarter. Millennium Management LLC now owns 2,379,882 shares of the utilities provider’s stock worth $279,708,000 after buying an additional 1,647,053 shares during the period. Vanguard Group Inc. boosted its position in DTE Energy by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 23,028,699 shares of the utilities provider’s stock worth $3,044,624,000 after purchasing an additional 1,420,586 shares in the last quarter. Boston Partners boosted its position in DTE Energy by 66.8% in the 4th quarter. Boston Partners now owns 2,542,081 shares of the utilities provider’s stock worth $280,247,000 after purchasing an additional 1,018,212 shares in the last quarter. Ameriprise Financial Inc. boosted its position in DTE Energy by 16.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,130,348 shares of the utilities provider’s stock worth $509,081,000 after purchasing an additional 724,561 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in DTE Energy by 145.4% in the 4th quarter. Royal Bank of Canada now owns 1,153,230 shares of the utilities provider’s stock worth $127,155,000 after purchasing an additional 683,250 shares in the last quarter. Institutional investors and hedge funds own 76.06% of the company’s stock.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.